Forbes Media LLC escaped a lawsuit brought by Phoenix Capital Group Holdings LLC and its CEO that claimed an article from October implied the company was operating a Ponzi scheme.
The “inferential leaps required to sustain such an implication are simply untenable,” Judge Gregory B. Williams of the US District Court for the District of Delaware said in an Aug. 1 opinion dismissing the suit.
Forbes published an article about the company, which does business as Phoenix Energy, and its CEO Adam Ferrari in October. The report described Phoenix as an oil and gas company, but also says its “‘core ...
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